Company Auditing Free Essays

Group Assignment – HBC614B Company Auditing PART 1 THE INTERNATIONAL AUDITING STANDARDS BOARD AND ITS IMPORTANCE TO THE DEVELOPMENT OF AUDITING STANDARDS IN AUSTRALIA AND NEW ZEALAND The International Auditing and Assurance Standards Board (IAASB) is an independent standard setting body within the International Federation of Accountants (IFAC). Established in 1978, originally known as International Auditing Practices Committee (IAPC), it changed its name to IAASB in early 2001 and was then reformed by IFAC in 2003. IAASB puts public interest first and aims to improve the quality and uniformity of practice throughout the world and to strengthen public confidence in the global auditing and assurance profession by facilitating the convergence of international and national standards. We will write a custom essay sample on Company Auditing or any similar topic only for you Order Now IAASB is committed to achieve its objectives through the following works: †¢ Developing Standards – establish high quality auditing, review, other assurance, quality control and related services standards, such as International Standards on Auditing (ISAs). Global Acceptance Convergence – promote the acceptance and adoption of IAASB pronouncements throughout the world and support a strong and solid international accountancy profession by coordinating with IFAC member bodies, regional organisations and national standard setters. †¢ Communication – encourage debate and present papers on a variety of audit and assurance issues and increase the public image and awareness of the activities of the IAASB. To date, the IAASB has earned increasing recognition for the quality of its standards and the credibility of its standard setting process. This has contributed to the increasing use of its standards worldwide. Over 100 countries are now using or are in the process of adopting ISAs into their national auditing standards. For investors in international capital markets, the quality of audit reports and audit opinions on financial reports are crucial when they make decisions about capital allocation. Audits, working within internationally accepted auditing standards, increase the credibility and reliability of the financial information provided in the financial reports. As Australian capital markets are increasingly linked with overseas markets, it is important to have a globally standardised financial reporting framework that is supported by globally accepted auditing standards. The Australian Auditing and Assurance Standards Board (AUASB) made the compliance with IAASB standards easier via a long-standing policy of convergence and harmonisation with ISAs. The AUASB uses ISAs as a base to develop Australian Standards on Auditing (ASA). For any revision and enhancement of ISAs initiated by the IAASB, the AUASB will make appropriate consequential amendments to ASA. The AUASB and IAASB generally issue an exposure draft of a proposed auditing and assurance standard concurrently for consideration by interested parties. In New Zealand, New Zealand Auditing Standards (AS) and Audit Guidance Statements (AGS) are also based on ISAs and International Auditing Practice Statements (IAPS). The New Zealand auditing authority adopts the IFAC documents and amends them only as necessary to achieve its – 1 of 11 – Group Assignment – HBC614B Company Auditing objectives. Amendments to the IFAC documents may be made to reflect specific New Zealand legislative requirements or to reflect specific audit practising arrangements within New Zealand. As we can see, for years since IAPC or IAASB was established, it has played a very important role in enhancing and standardizing the quality of auditing and assurance services around the world. ============================= – 2 of 11 – Group Assignment – HBC614B Company Auditing PART 2 CO-REGULATION OF AUDITING PRACTICE IN AUSTRALIA In most developed countries, including Australia, the auditing regulatory framework is provided, at least to some extent, by government through legislation and government agencies. In the past, however, the auditing profession in Australia was largely self-regulated through the rules and requirements self-imposed by the principal players in the field, i. e. auditing firms and auditing professional bodies. As a result of the Corporate Law Economic Reform Program (CLERP) 9, the Auditing and Assurance Standards Board (AUASB) became a statutory (government) body. Since April 28th 2006, the Australian Auditing Standards (ASAs), which have been released by AUASB for purposes of section 336 of Corporation Act 2001, have Force of Law. The Financial Reporting Council (FRC), a statutory body under the Australian Securities and Investments Commission Act 2001 (ASIC Act), is responsible for providing broad oversight of the process for setting accounting and auditing standards as well as monitoring the effectiveness of auditor independence requirements in Australia. Yet the control and enforcement mechanism of these standards is also supported by the auditing profession represented by two primary professional accounting organisations: CPA Australia and the Institute of Chartered Accountants in Australia (ICAA). Although the membership in these two organizations is voluntarily, it is still a necessary condition to get registration as a Company Auditor or a Liquidator. Some methods of control of quality of the auditing services imposed by these professional organisations include peer reviews, continued professional development and periodical rotation of the auditors. There are also disciplinary procedures in place to encourage improved ethical behaviour and quality of service provided. This particular model of co-existence of government regulation and industry self-regulation in Australia is called ‘co-regulation’ of auditing practice. Co-regulation provides ‘interactions that produce pressures for the refinement of regulatory structures in terms of openness, consultation, independence and speed of response to urgent accounting problems’ [Malcolm C. Miller]. ============================= – 3 of 11 – Group Assignment – HBC614B Company Auditing PART 3 QUESTION 6. 3 – ASA 315 UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT – HOMECHEF PTY LTD. A first and very important step of the audit process involves the auditor gaining an early understanding and knowledge of the client’s business. In fact, ASA 315 requires that this step is carried o ut during the audit planning stage. The auditor must obtain or update their understanding of the client’s operations and circumstances, including its organisational structure, management policies, the company’ position in its industry, the economy and its legal obligations. ASA 315 provides extensive guidance on matters related to obtaining an understanding of the entity and its environment, which may be classified into three main categories: (1) Internal control / organisational structure (2) Operational and legal structure (3) Industry and economic conditions An understanding of these three elements helps the auditor assess the client’s business risk and identify the events, transactions and practices that may have a significant effect on its financial report. This report presents a recent review of the operations and circumstances of one of our clients, HomeChef Pty Ltd. in accordance with the requirements of ASA 315. The main objective was to identify the events and developments at HomeChef which may have a significant bearing on the company’s business risk and consequently affect our audit. This understanding will help us plan and perform the audit more efficiently and effectively and will ultimately improve the services we provide to our client. HomeChef Pty Ltd has been the market leader in the boutique food and beverage industry for the last two years. The company manufactures, supplies and retails quality ingredients for use in the home kitchen and small restaurant market. During the review our audit team identified a number of major events/transactions that may have a significant impact on the business and affect our audit process. Below is a brief discussion on each of these events/transactions: 1) New products and services: Recently, HomeChef introduced ‘pre-packaged’ meals suitable to be served at a dinner party. Preparation of the ‘ready to serve meals’ would require extra steps to produce the final product. This would involve more processing facilities, more staff and more advertising. One potential related business risk might be the increased product liability. There may be extra compliance requirements from the Food Safety Regulators. There could also be risk that the demand has not been accurately estimated. The company’s capital and current expenditure may increase significantly because of the launch of the new product. This situation tends to increase our audit risk. The auditor, therefore, should carefully consider how this changing operating characteristic may affect his/her auditing process. For example, he/she may need to review some Food Safety Regulation requirements to assess that correct amounts of expenditure is attributed to this particular type of compliance; or refer to some industry literature to get a better understanding of the niche market for this type of product. Reviewing – 4 of 11 – Group Assignment – HBC614B Company Auditing sales figures and sale forecasts may also help to assess to what degree the company’s business risk may be affected by this new development. 2) New lines of business: HomeChef has recently opened a number of small cafe where customers can sample the s company’s product range. By doing so, the company is venturing into unfamiliar territory. In addition, the notes of HomeChef’s draft financial report reveal that the company has entered into agreements for building and developing a new entertainment complex. These events indicate not only changes in the company’s operational structure, but also those relating to its environment. New opportunities bring new risks. As this is HomeChef’s first venture into a new business area, lack of expertise and experience could be a real concern. The hospitality industry operates quite differently from the food manufacturing. There could be many more competitive forces and regulations in place. This move could change the organisational/operational structure of the company drastically. For example, new divisions may need to be established and the company hierarchy changed. Apart from the potential risks of increased product liability and inaccurate demand estimates, similar to the case of all new products, this could introduce new risks associated with the company’s internal control. Also, the company’s potential business risk would increase its inherent risk. In general, this event is likely to increase our audit risk. It is very important that the auditor familiarises him/herself with the company’s new operational structure, the industry conditions and regulatory environment related to this new line of business. Reviewing the hospitality industry publications and significant industry legislation may assist with basic understanding of how the company business risk is affected by this move. Aggressive marketing and acquisition strategy – Rapid growth: Over the last two years HomeChef has acquired a number of smaller competitors and become the market leader in its industry. This is an indication of the company’s aggressive approach to expansion and growth. In such situations, it is often noticed that a company’s infrastructure is likely to lag behind in the process. In a hurry to expand, the organisational structure of the company may be changing too fast. There could be staff members with insufficient experience, the IT system may not cope well under the new conditions as new procedures and processes are added in. This significant and rapid expansion of operations could create strain and increase the risk of a breakdown in controls. The auditor needs to discuss with the senior management and gather evidence from the company’s documents to assess this risk. He/she may need further understanding of the current cycle in the industry, to assess how this ‘acquisition spree’ could affect HomeChef’s business risk, and consequently the audit risk. Reviewing government statistics, trend forecasts, trade journals and financial newspapers may help improve the auditor’s understanding of the industry in general and the business in particular. Changes in key personnel: The departure of a key executive (HomeChef’s finance director), probably with a significant loss of corporate history and experience, may also have an impact on the business. The new finance manager has been with the company for less than a month and may take some time to gain the knowledge and understanding of the business. He may have a different focus or 3) 4) – 5 of 11 – Group Assignment – HBC614B Company Auditing understanding of the company’s internal control. The auditor should take this factor into account when assessing the risks of misstatements associated with the company’s financial report which, possibly, has been prepared under the instructions of the new finance director. 5) Newly-established internal audit group: HomeChef started using the service of an internal audit group for the first time this year. Generally, the existence and operation of an internal audit group indicate the commitment and serious consideration given to maintaining high standards of internal control by the management. This would normally reduce the control risk in a business and subsequently reduce the audit risk. In addition, the external auditor could, to some extent, use the work of an internal auditor, after having gained knowledge of and satisfied with the scope of internal auditing and the audit team’s technical competence and professional care. However, in this case, as HomeChef’s audit team is new, careful considerations are required if the auditor is to rely on the internal team’s audit work. Installation of a significant new IT system related to financial reporting: HomeChef switched to a new computer system early this year. The system was installed by a professional computer company and the old and new systems were run parallel for 3 months. Some new functions/modules have been introduced in the new system, including the ability to process stocktake results, account payable invoices and payments at the store level. This event highlighted a major change in one of the company’s internal control components. It seems that the new system is rather reliable as a systematic testing plan and an integrity checking process were carried out by the professional computer company and there have been no major problems with the system so far. The use of this new system could potentially decrease the company’s control risk. The audit strategy could focus on test of control. A proper and systematic testing plan on the new system is recommended, especially on the new modules for stocktake and accounts payable process. Significant amount of non-routine/non-systematic transactions: HomeChef’s draft Income Statement includes an ‘extraordinary item’ of $231 million without any notes or explanations attached to it. The existence of this ‘extraordinary’ loss would certainly have a significant impact on the business and would increase the audit risk considerably. This particular transaction requires a significant amount of attention by the auditor. Enquiries should be made to understand the nature and extent of all relevant details of this transaction. This would help the auditor assess if the transaction is legal, not dismissing the possibility of fraud, or errors, such as transactions recorded without substance, intentional misapplication of accounting policies, mathematical mistakes, oversight or misinterpretation of facts. The auditor should also examine if the valuation and allocation of the amounts have been done correctly. Company records and legal documents will need to be reviewed. An extensive substantive audit approach would be suitable for this particular area of the audit. Debt structure – Covenant agreement: Note (e) to the draft Financial Report reveals that a covenant agreement exists between HomeChef and its bank. The bank loans are secured against the company’s remaining property, plant and equipment. This agreement specifies that the company should maintain a 6) 7) 8) – 6 of 11 – Group Assignment – HBC614B Company Auditing positive net tangible asset ratio and a positive current ratio. Given the large amount at stake, there is a great incentive for the company to falsify, alter and manipulate figures to achieve these positive ratios at any cost. This situation would increase HomeChef’s business risk significantly and consequently increase our audit risk. The audit plan could focus on substantive testing of the accounts related to the current ratio and net asset ratio. The auditor must exercise reasonable care and skill and maintain an attitude of professional scepticism throughout the audit. Based on HomeChef’s financial ratios being adverse and the subsequent difficulty in complying with the terms of loan agreements, the auditor may need to raise a going concern issue. It would be necessary for the auditor to discuss this problem with HomeChef’s management so that appropriate measures could be taken by the company to overcome this situation. As a result of reviewing HomeChef’s operations and environment, including its financial and marketing position, using the precepts of ASA 315, our audit team has been able to update our knowledge of the company’s situation and assess our audit risk accordingly. This understanding and assessment will direct the development of our strategy and plan for the audit of HomeChef. ============================ – 7 of 11 – Group Assignment – HBC614B Company Auditing PART 4 QUESTION 6. 22 – IMPACT OF BUSINESS RISK ASSESSMENT ON AUDIT STRATEGY This report presents a short case study of Weave Limited. The main purpose of the case study is to look at how Business Risk impacts on Audit Risk, and consequently, on Audit Strategy and Plan. Weave Limited is a closely held private c ompany, manufacturing high-quality woollen cloth. It has been in operation for almost 60 years and the CEO of the company is also its major shareholder. Currently, the company is under a great financial stress due to increased competition and falling sales volume. Three years ago the company was sued for dumping chemical pollutants into the local river. As a result, a settlement was signed with the Environmental Protection Agency providing that Weave construct a water treatment facility within five years. Our Audit Firm has been auditing Weave for the last ten years, and the current year interim audit revealed that there has been virtually no activity in the Water Treatment Facility Construction account in the current financial year. To prepare for this year audit we need to take the following steps: (1) review the company’s business risk i. e. the risk that Weave’s business objectives will not be attained due to the above-mentioned pressures and, ultimately, the risk associated with its profitability and survival. (2) assess the implications of the company’s business risk on our audit risk (3) develop our audit strategy and audit program in response to the assessed risks. In order to assess Weave’s business risk, we felt that a PEST analysis would be the most appropriate approach. It involves identifying the political/legal, economic, social and technological influences on an entity. †¢ Environmental Protection Laws may have a heavy toll on the business. Compliance with these Laws (such as building a water treatment facility) may be very expensive, but non-compliance may actually have a suicidal effect on the company. †¢ Economic risk should also be taken into account. Increased competition and limited market for Weave’s high quality and possibly expensive products could pose a serious threat to the company’s profitability and ultimately its very survival. Social risk component is also present in this case. The surrounding area is poor and unemployment rate is high. The company’s management may feel a social pressure to provide employment at any cost. The obligation to build a water treatment facility could be very expensive and resource-consuming. It is not an easy task to estimate or to make provisions for the resources require d to meet this obligation. It is even harder to estimate the costs of not meeting this obligation. This adds unusual pressure on the management. Potential incentives could arise for management to understate the company’s profit/cash flow to use as an excuse in an attempt to avoid fulfilling this particular liability. This situation is likely to increase Weave’s inherent risks. – 8 of 11 – Group Assignment – HBC614B Company Auditing In assessing the company’s control risks, certain observations and issues have come to our attention which suggest an unsatisfactory internal control system: †¢ The company’s CEO is also its major shareholder who seems to be a strong character that has the overriding authority and decision making power. The CEO does not seem to take the compliance with the conditions imposed by the Government’s Environmental Protection Agency seriously. He decided to stop work on the water treatment facility as he thought that the State would not fine or close the company down for non-compliance. †¢ The company does not seem to have any risk assessme nt policies or procedures for dealing with business risk. Based on the above findings, the audit team agreed that Weave’s business/inherent risks and control risks could be assessed as high. This conclusion has had an impact on our audit strategy and audit plan. As we believe that the control risks are high, an audit strategy of a predominantly substantive approach has been adopted. We do not plan to obtain a thorough understanding of the company’s internal control or to carry out tests of control. Instead, we plan extensive substantive audit procedures based on a low to medium acceptable level of detection risk (depending whether the assertions under examination are at risk). In response to the high level of inherent risks, we decided to assign more experienced audit personnel and to conduct the audit with a heightened degree of professional scepticism. As mentioned earlier, an accurate assessment of the extent of liability related to the breach of the environmental laws is not easy to achieve. As the company’s management does not seem to recognise the seriousness of this risk or to respond to it properly, we decided to engage environmental and technical experts to assist by providing us with legal/environmental opinion and estimates. The engagement of an environmental consultant will be scheduled to happen before the year end audit. Weave’s increased inherent risk and control risk increase our audit risk. Some assertions in the company’s financial reports have been identified as the key audit assertions as they tend to be more at risk. These assertions will be examined closely (please refer to the matrix below) and more efforts will be focused on obtaining sufficient and appropriate evidence to test these assertions. Financial Acct Liability Acct (provision for water treatment facility) Contingent Liabilties Valuation of the provision Sales Acct (Income Statement Assertions) Completeness all sales recorded Accuracy of recorded sales amounts Correct accounting period cut-off Inherent Risk Control Risk Debtor’s confirmation Assertions at risk (Balance Sheet Assertions) Completeness of all liabilities Inherent Risk Engagement of environmental expert/consultant Quotation / project estimations are recorded properly with appropriate amounts Audit Risk Procedures/Evidence 9 of 11 – Group Assignment – HBC614B Company Auditing To test if the liability account for the water treatment facility contains any material misstatement we will focus on whether the account has included all liabilities as per the environmental specialist’s advice and the amounts are properly estimated and recorded (completeness and valuation). We could do this by seeking confirmation from the environmental specialist and checking estimates/quotations for the project. To support the company’s claim of ‘low sales volume’ and ‘low level of cash flow’, we will test if all sales transactions pertaining to the company have been included in the income statement (completeness) and all sales occurred during the current accounting period have been properly recorded with the correct amounts (accuracy and cut-off). Collecting debtors’ confirmations could be the approach to carry out this test. As our team has audited the company for the last ten years, it is assumed that there must be a certain degree of familiarity and complacency. However, due to the new developments in the company’ situation, more specifically, higher level of business risk, this year’s audit strategy and plan have been revised accordingly. Apart from additional audit procedures and probably a larger sample size, our team will need to maintain a higher level of professional scepticism to make sure that the company’s accounts contain no material misstatements. It should be noted that had this audit been undertaken in the seventh year after the signing of the settlement with the Government’s Environmental Protection Agency, the situation would be different. As the condition of the settlement to build a water treatment facility would have been breached by now, there is an imminent threat of the company being closed down by the government. A ‘going concern’ assessment at the planning stage (as required by ASA 570) would provide the following going concern problem indications: (1) increased competition and falling sales, (2) noncompliance with statutory requirements, and (3) legal proceedings against the entity. In cases where going concern is related to cash flow or solvency problems, some mitigating factors could be considered (such as sale of assets or additional contributions by owners). However, in this case, it could be judged that a going concern basis is not appropriate as the business is now subject to closure by government regulation enforcement. We, as the auditors, would need to discuss ways to deal with the problem with the company’s management. The possible outcomes could range from renegotiating the settlement agreement to making the decision to liquidate. In the latter case, the auditors would have to assess the impact that a forced sale of assets would have on the book values and the classifications of assets. The auditors would also need to assess the amount and classification of liabilities, including any provision for staff termination payments and other closing-down expenses. In any way, if going concern is an issue it should be adequately reflected (disclosed) in the Financial Reports. The Auditor’s Report should also include an ‘emphasis of matter’ [ASA701. 09 ASA570], clearly stating that there is a significant uncertainty regarding a going concern problem. ============================= – 10 of 11 – Group Assignment – HBC614B Company Auditing REFERENCES: 1. 2. Australian Auditing and Assurance Handbook, 2007 Edition, CPA Australia Australian Government’s Financial Reporting Council 2005, Australian Government’s Financial Reporting Council, viewed 20 May 2008, http://www. frc. gov. au/about 3. Brief History 2008, International Auditing and Assurance Standards Board, IAS Plus, Deloitte, viewed 18 May 2008, http://www. iasplus. com/ifac/iaasb. htm 4. Chris Pearce, Parliamentary Secretary to the Treasury, 22 November 2004, â€Å"The future of governance regulation in Australia, Address to the 21st National Conference of Chartered Secretaries Australia†, viewed 19 May 2008, http://www. reasurer. gov. au/DisplayDocs. aspx? doc=speeches/2004/001. htm=005=cjp=20 04=1 5. Gay Simnett, 2007, ‘Chapter 6 Planning, Knowledge of the Business and Evaluating Business Risk’, Auditing and Assurance Services in Australia, revised edn 3, McGraw-Hill Australia Pty Ltd. 6. International Auditing and Assurance Standards Board 20 08, IFAC, viewed 18 May 2008, http://www. ifac. org/IAASB/ 7. James M. Sylph, January 14, 2005, â€Å"Global Convergence – Near or Far? †, American Accounting Association Auditing Section 2005 Mid Year Conference How to cite Company Auditing, Papers

Exercise 29 Statistices free essay sample

According to the above data independent groups define as if the two sets of data were not taken from the same subjects and if the scores are not related. In this study subjects are two different genders which is men and women and scores are not even related each other. Therefore this is an independent study. 2. t = ? 3. 15 describes the difference between women and men for what variable in this study? Is this value significant? Provide a rationale for your answer. T = -3. 15 describes the mental health variability. This is a significant value because it’s provides the degree of freedom. According to the data above the significance of a t ratio can be determined by comparison with the critical values in a statistical table for the t distribution using the degree of freedom for the study. The value is significant because p value of it is 0. 002 which is smaller than alpha value set for this test that is 0. We will write a custom essay sample on Exercise 29 Statistices or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 05 3. Is t = ? 1. 99 significant? Provide a rationale for your answer. Discuss the meaning of this result in this study. t = -1. 99 is significant because it represent health functioning variables between men and women which compares men and women for perceived coping, quality of life and social support. Smaller P value indicates more significant findings. The P value for health functioning is 0. 049 which is smaller than the alpha level 0. 05 in this study. 4. Examine the t ratios in Table VI. Which t ratio indicates the largest difference between the males and females post MI in this study? Is this t ratio significant? Provide a rationale for your answer. The largest difference between the males and females post MI indicates the mental health. It has t ratio of -3. 15. This is a significant ratio because it has a p value of 0. 02 which is smaller than alpha value that being sent for 0. 05 5. Consider t = ? 2. 50 and t = ? 2. 54. Which t ratio has the smaller p value? Provide a rationale for your answer. What does this result mean? t = -2. 50 has a p value of 0. 01 whereas t = -2. 54 has the p value of 0. 007 which is smaller than p value of 0. 01. This result means that t = -2. 54 has more significant findings, which indicate that better role- physical after post MI between men and women than the physical component score. 6. What is a Type I error? Is there a risk of a Type I error in this study? Provide a rationale for your answer. According to the data above, a type 1 error occurs when the researcher rejects the null hypothesis when it is in actuality true. The type 1 error is often represented by the Greek letter alpha (a). In this study the level of significance or alpha was set at 0. 05 and multiple p value has gone above 0. 05 such as socioeconomic p value0. 58, family p value 0. 51. Therefore, there is type 1 error in this study. 7. Should a Bonferroni procedure be conducted in this study? Provide a rationale for your answer. Because this study has a risk of a type 1 error, a boneferroni procedure should be conducted. This procedure is used to correct the risk of a type 1 error. The boneferroni procedure is a simple calculation in which the alpha is divided by the number of t-tests run on different aspect of the study data. 8. If researchers conducted 9 t-tests on their study data. What alpha level should be used to determine significant differences between the two groups in the study? Provide your calculations. Alpha/ number of t tests performed on study data = more stringent study to determine the significance of study results 0. 05/9 = 0. 0055. 0. 005 is the alpha level should be used to determine significant differences between the two groups in the study. 9. The authors reported multiple df values in Table VI. Why were different df values reported for this study? The author used multiple df values in table VI because according to the data above, significance of a t ratio can be determined by comparison with the critical values in a statistical table for the t distribution using the degrees of freedom for the study. DF is a mathematical equation that describes the freedom of a particular scores’ value to vary based on the other existing scores values and the sum of the score. The formula for the df = number in group 1+ number in group 2-2. This way author is becoming more specific by providing different df values which shows the comparison and differences between 2 independent groups. 10. What does the t value for the Physical Component Score tell you about men and women post MI? If this result was consistent with previous research, how might you use this knowledge in your practice? The t value tells us about the differences between men and women post MI physical component score. In my practice using this t value, I would be able to work differently between men and women after post MI. Teaching might provide to women more about physical functioning, role physical, bodily pain and general health since these are all included in physical component score. The physical component score for women is 48. 5 compared to men 51. 1 (standard deviation). Therefore, women might need to educate more about the physical components than men.

How to Fix the 500 Internal Server Error in WordPress

Internal server errors in WordPress are the worst (aka. http error 500). They provide no real information about the problem and are rarely actual server errors (ie: usually your server is working fine).In this article, Ill try to make sense of this internal server error in WordPress and show you how to get rid of it: The only thing thats certain is that the error is caused by some operation that went wrong on the websites end. Particularly in WordPress case, this can mean that a script thats part of a theme or a plugin did something it shouldnt have done, and now your server has crashed.Dont sweat, though, there are some good solutionsHow to resolve 500 internal server errorMost of the time, you can have the 500 internal server error solved in 6 steps:1. Turn on debuggingWhenever WordPress throws you a white screen of death or a server error, I recommend turning your debugging on. While this may not fix the problem, it may give you more insight into whats going on.You can turn debugg ing on by editing your sites wp-config.php file. Once youve accessed this file, search for WP_DEBUG within. If you find it, you should be able to set it to true. If you dont see it in there, youll need to create it yourself. Either way, at the end of the day, you should have a line that looks like this:define( "WP_DEBUG", true );Once saved, reload your site to see if anything has changed. If youre lucky, the server error may disappear and might be replaced with a different error, one that actually tells you where the issue is.If this is the case, take a look at where the error is located. If it is within a plugin folder, disable that plugin, the error should go away.Even if turning on debugging doesnt give you a great result, it is a good idea to leave it turned on until the issue is resolved. It will give you and any developers more insight into whats going on. Dont forget to turn debugging off once everything is a-ok and youre done with the maintenance!2. Deactivate all plugins an d switch themesIf you have access to your dashboard, you should deactivate all your plugins and see whats what. If your website loads without the server error the issue was with one of your plugins. You can switch them on one-by-one to figure out which one caused the issues.You can also switch your theme to a default, unaltered WordPress theme like Twenty Fifteen or Twenty Sixteen. If the site loads without the internal server error, the issue was within your theme.Ive noticed that quite a few of these errors are actually caused by plugins, so this will be your best bet.3. Check your .htaccess fileThe .htaccess file, if it exists, contains a number of rules that tell the server what to do in certain circumstances. It is commonly used for rewriting URLs or preventing access to your site for malicious intent.Use your FTP editor and check if you have an .htaccess file in your WordPress root folder. You may need to make sure your FTP editor lists hidden files before you do this.If there is an .htaccess file there, make a backup and then delete all the contents within, or the whole file. This may remove some important rules, but if the internal server error was caused by a mistake within the file, this will tell you.If the error is now resolved, the issue was with the .htaccess file. Try restoring the file and then deleting blocks of it. If at some point the site starts working, you know which block the issue is in. You can narrow it down to a single line like this usually. You can then remove that line or ask your developer or your host for further assistance.4. Increase your memoryIve never personally run into this issue, but Ive heard that increasing your memory limit may help I assume this is more of an issue in shared environments. To get this done, open your wp-config.php file in the WordPress root directory and search for WP_MEMORY_LIMIT. If it exists, change the value to something like 64M. If it doesnt, paste the following line into the file:define('WP_ME MORY_LIMIT', '64M');If this works then youve only solved the issue temporarily. Chances are that you have a faulty bit of code somewhere (which could be a third party plugin) that is exhausting your resources. If your host has monitoring available, take a look at your resource usage with various plugins on/off to get a better idea of what is wasting those precious megabytes.5. Ask your hostThere are a few uncommon issues which can lead to internal server errors in WordPress, but at this point it may be best to ask your host. The issue could be a genuine server issue, which they can at least confirm and they can also look at things like file permissions and other sources.Or, you might just want to switch to a better host that has servers that are more optimized to run WordPress sites. This doesnt have to be expensive. There are hosts that give you an okay WordPress experience for as little as $0.8 a month.6. Reinstall WordPressI shouldnt think this would help in most cases, but there are some edge cases where a reinstall of WordPress could fix the issue. It may even fix file permission problems along the way.To get this done, I recommend following the manual WordPress Update instructions in the WordPress Codex, or ThemeIsles own guide to installing WordPress.SummaryInternal server errors in WordPress are usually not caused by actual server faults. Most of the time, they can be corrected relatively easily using the methods described above. If in doubt, always ask your host, they have far more sophisticated tools than you do to locate and fix issues.I always recommend switching on debugging while youre working things out and ruling out plugin and theme issues since this is what any support technician would ask your to do first, or they would do it themselves. How to fix the 500 internal server #error in #WordPress 🠤â€"

What retirees can expect from their Costco job application

What retirees can expect from their Costco job application By: Scott Lawson Getting a part-time or a seasonal job when retired is becoming a more and more popular choice. Boomers and recent retirees alike often choose to supplement their retirement income through a job. A retail chain like Costco is a great place to start a job search. According to Time.com, Costco was praised by current employees for offering livable wages and benefits available to all employees.Here’s a brief guide for securing a job with Costco including steps and explanations from this Costco job application guide. After we walk you through the main careers to be pursued with Costco, you should be able to complete your job application easily. Let’s go!Costco careers at a glanceCostco is a complex operations chain of warehouses offering furniture, clothing, food, pharmacy goods and much more. Their careers are just as multi-faceted. What we mean by that is, depending on your background and skills, you may find very different pathways laid out before you.Here are the main types of jobs that Costco recruiters are always looking to fill:Warehouse and customer support jobs (Examples: warehouse and depot jobs, call center support positions, web trade positions, packaging positions, meat and merchandise processing jobs, counter jobs, business delivery jobs.)IT jobs (Examples: programmers, junior programmers, web developers and graphic interface designers.)Regional and home office jobs (Examples: human resources specialist, buying, and accounting positions, as well as legal counsel.)Licensed professions positions (Examples: opticians, pharmacy technicians, pharmacists, hearing aid specialists, optometrists, etc.)Popular jobs among SeniorsDepending on your background and the skills you acquired before retirement (or since you retired if you took advantage of the extra time), you may qualify for a position within the IT department or licensed professions. Some of these jobs are available on a part-time basis, but most of them do require a full- time commitment.Most seniors, however, seem to find employment within the warehouse and customer support jobs. This is due to both their background and experience (since there are more people trained for these positions), and the greater flexibility offered.Examples of warehouse, depot and customer support positions are these: cashier, clerk, cashier assistant, food court worker, stocker, and store manager.If you prefer a 4 or 6 hour a day schedule and think you have what it takes, go ahead and apply for a warehouse, depot or customer support job. This type of position involves working with people on a day to day basis and keeping those customer service skills polished.Now the fun part! Here’s the application process.Steps to complete your Costco job applicationGo to the Costo careers portal and click the Apply Now button to be redirected to the jobs page.At the top of the page, click on the Apply to a Specific Position tab. There you can start searching for positions. If you prefer to explore whatever vacancies you can find in your proximity, then you should stay on the second tab.If you’re searching for jobs nearby on the second tab, you can introduce your zip code and the website will return all available positions within a reasonable radius from that location.If you want to find a job within a specific department, you can also click on the following tags to filter only the available positions pertaining to them. Filter  jobs according to Contact Center, Costco Travel, Depots, Warehouse Store and more.If you see results for multiple positions with the same name but different locations, simply click on the name of the store you would like to work. Once you find the position and location, you’re ready to start! Click the red button that says Begin Application.Register for an account on the Costco careers portal, or sign in if you already have created an applicant account in the past. If you forgot your password, you can easily reset it by clicking Forgot My Password.Next, you will be asked to fill in your contact information. Fill in all the required fields, using your primary email address and a cell phone number. Make sure they are able to reach you easily if you get selected.Then, upload your resume to their portal. You should have a CV prepared beforehand somewhere on your computer, and upload it when prompted.You may be asked some questions next, about your previous experience, expected start date and so on. If you get asked hypothetical behavior questions, like ‘How would you react if confronted by an angry customer?’ Focus on describing a calm and sympathetic response. Most questions will focus on facts regarding your background and last job you held. This portion shouldn’t take longer than a few minutes.Review your application details and submit it when you’re sure everything is correct. You’re done!Next, you should simply wait for a phone call from a Costco HR representa tive. If they select you for an interview, you should hear from then within a couple of weeks. Costco is an equal opportunity employer, and there are plenty of seniors who managed to find employment opportunities in their team. Keep a positive outlook and good luck with your application! About the author: Scott Lawson is an HR manager devoted to his career. During his 5-year work span, Scott developed a taste for writing and helping others. This materialized into a website, JobApplicationWorld, that aims to help others tackle the hiring process.

Project Management Essay Example | Topics and Well Written Essays - 1000 words - 6

Project Management - Essay Example Restaurants solve this problem and provide consumers with cooked food items. The time required to obtain cooked food does decrease but the decrease depends on the type of restaurant. Fast food restaurants have cooked food that is ready to serve with minimal need for service making them the fastest food providers. In essence, fast food restaurants have greater chances of being a business success than other larger and more exquisite restaurants for two reasons. The first advantage is that the consumer base for fast food restaurants is large and the second advantage is that the initial investment is small. In addition, fast food restaurants are more environmentally friendly since the processed food requires far less raw materials than exquisite dining options. On another note, the waste produced from fast food joints is also lower since lower amounts of food items are processed and so lower amounts of waste is produced. The other major benefactors from a fast food restaurant would be th e consumers being served and the investors backing the project. The consumers would be provided with fresh varieties of fast food in order to provide a diverse eating experience. Alternatively, the appeal of new varieties of fast food are expected to bring in attractive returns for the people investing in the proposed project. Project Risks The proposed project stands to get affected from a number of internal and external risks. For one thing, a fast food restaurant is a business that faces stiff competition at start since there are a lot of different fast food restaurants already present in the market. The presence of well established competitors means that the new business will have to create a loyal customer base and then expand it while old and new competitors exist in the market. Moreover, customers in the fast food category have already developed tastes for fast foods being offered at various kinds of fast food restaurants. This is comparable to the beverage industry, where fo r example, a Pepsi customer will not ask for Coca Cola and vice versa. There is a risk that when the new fast food restaurant opens, it may take a lot of time to develop consumer’s taste in new varieties of fast food. In the short run, this could mean a prolonged principal amount recovery period but in the long run this strategy would result in a loyal customer base. Another thing that must be kept in mind is the fragile state of the overall economy. When the economy is performing well, it could be expected that new business survival would be easy since people would be spending with an open hand. In more restrictive fiscal situations, such as the current state of the economy, consumers have smaller disposable incomes and they are less willing to take risks with their money. A consumer would prefer to take fast food from a restaurant whose taste they are already familiar with rather than trying out a new fast food restaurant. The opening up of a new business also poses some mo re familiar risks such as finding the right kind of labor and ensuring retention of good workers. For a fast food restaurant, highly capable chefs would be required to churn out recipes that can be produced in no time and that would cater to the tastes of the target market. In addition, fast food requires that the business have a committed supplier base who can deliver products at the most optimal prices. Larger fast food chains such as McDonalds and KFC have the distinct advantage of ordering in bulk and having many

News Paper Summary Essay Example | Topics and Well Written Essays - 500 words - 2

News Paper Summary - Essay Example nce been evident especially on the waterfront, and buyers are relying on the Latin American-style of financing, which necessitates one to deposit a minimum of 50% before closing to fund construction. Developers will thus affect the rental market adversely since everyone is moving away from rentals thus raising demand. CIT group is set to acquire $3.34 billion in cash from OneWest in a deal they project to produce profits of 3.35 times its initial investment. OneWest collapsed in 2008 thus becoming the third largest bank failure due to growing concerns by customers about its rising mortgages. The deal drew scrutiny from the dividends they produced for private-equity firms and their investors, but regulators had few choices. CIT majors in commercial lending and the deal is set to boost its assets to $67 billion. The firm’s top cop is confident the regulators will approve the deal, and he is gratified with the deal because it will be worth the expense that comes about with crossing the $50 billion mark. The article tinctures on a court ruling set to be revisited to determine whether misconducts done by employers to staffs should apply to cases brought under Connecticut law. It further cites an example from a case brought forward by Mr. Trusz, who was fired by UBS for allegedly overvaluing properties leading to excessive fees for clients. He consequently sued the banks citing his superiors treated him differently from others who did not complain before winding up their employments. Investors predict they could lose a lot if the court interprets the law narrowly since whistleblowers will have their safety compromised against reporting firms’ wrongdoings. If the ruling favors Mr. Trusz, it will limit employers’ flexibility to make tough verdicts on workers. In its defense, UBS claimed Mr. Trusz duties encompassed in his official duties did not include valuations of property, but he defended his actions by saying that whistleblower shelters are essential to shield

Media Analysis: Banning Beauty and the Beast in Malaysia

Media Analysis: Banning Beauty and the Beast in Malaysia Banning and Censorship of Beauty and The Beast in Malaysia: An Analysis on News Values and News Frames. This article analyses the news reports on the banning and censorship of movie Beauty and The Beast in Malaysia. In order to analyse the news reports, four articles from different media outlets had been selected to compare and contrast the news representation. The articles that had been chosen are the one by Malaysias The Star (Malaysias neutral newspaper), the UKs Daily Mail and The Independent (to compare the news reports taken from a newswire and the one with authors by-line) and a news report by Bloomberg (the first foreign media to report this issue). All these media outlets report news on banning and censorship of Beauty and The Beast as it sparks controversies among Muslim majority Malaysians due to its gay scene. That gay moment has raised concerns among the public as it is inappropriate for children viewing and it is also claimed to promote negative values where homosexuality is strictly prohibited in Malaysia under both religious and secular laws. In the movie, the character Le Fou played by Josh Gad was seen to be confused about his sexuality. Following this issue, Malaysias Film Censorship Board had requested the gay moment scene to be cut, making it suitable for Malaysian viewers, especially children below the age of 13. The main purpose of this analysis is to study the way journalists frame censorship news. Throughout the analysis, the frames and values have been highlighted together with explanations of what makes the frames to be newsworthy. First, all four news articles framed Beauty and The Beast as the gay moment. According to Lupton (2006), event or issues that are considered to have news value or to be newsworthy are indicative of a bigger concern of society. This suggests that in order to select a news frame, the news angle itself has to be newsworthy. Similarly, Gamson and Modigliani (1989) believe that news framing is a media process of highlighting an issue which also could be perceived as to give meaning to an issue. With regards to Beauty and The Beast defined as the gay moment, it sparks a huge debate in Malaysia as media censorship also does not only apply to print and online media but it also bans songs and movies that insult Islam as religion of the constitution, as well as those that encourage acceptance of gay. In an article by The Independent, Malaysias Film Censorship Board chairman Abdul Halim Abdul Hamid described gay moment as unsuitable because many children will be watching this movie despite its very short scene of 4.30 minutes and rated PG 13, indicating some content might be appropriate for pre-teens. According to Wan Mahmud (2007) among elements that are forbidden include contradicting Islamic rules (fatwa) by the State Islamic Councils as wells as those that endanger Malaysian norms and values. Contradictory, an article by Daily Mail portrays that the films director Bill Condon had a very different view as he claims that this is Disneys first exclusive gay moment. Entman (1991) clarifies that framing is measured by a few aspects such as moral judgements, cultural values and what forces create the problem. The different ways of news framing suggest that the way media framed news is to shape what the public should read instead of what the public should know. Goffman (1974) suggests that frame is perceived as the cognitive patterns or maps where the media use to emphasise and render information into a series of newsworthy events. This also suggests that journalists are dep endent on frames to select what to include in a story and what should be eliminated. At the same time, as Islam is the religion of the constitution in Malaysia, news on banning or movie censorship has always been closely related to local customs and culture. Yopp and McAdams, 2003) suggests that when selecting stories, journalists and editors are drawn one or more of the following criteria: i) timeliness, ii) prominence, iii) emotional effect, iv) magnitude v) oddity, vi) proximity vii) impact, vii) conflict. This suggests that media practitioners must strive to report and to package news according to the values and with regards to this issue, it involves proximity, emotional effect and conflict. Not just that, journalists also use news frame to present human interest story. By analysing the news articles, three foreign news outlet emphasised about Malaysias law on homosexuality or gay behaviour in their news reports. In Bloomberg, Daily Mail and The Independent, homosexuality is defined as a criminal offence. Caudill and Ashdown (1989) suggest that uncommon, up-to-date, provocative or affects a large scale of people is most likely to receive coverage by the media. Dunwoody and Griffin (1990) suggests that journalist could gain readership by creating controversy between two or more standpoints. In this issue of banning Beauty and the Beast, religious view and punishment towards homosexuality could be perceived as the standpoints that make the news controversial. This also suggests that journalists will look for anything with the human angle when they have to decide that to write a news report. Goffman (1974) suggests that frame is perceived as the cognitive patterns or maps w here the media use to emphasise and render information into a series of newsworthy events. For example, Daily Mail, Bloomberg and the Independent clearly mentioned that homosexuality in Malaysia would lead to fine, imprisonment and corporal punishment. Nevertheless, Nik Hassan (2007) argues as news frame also suggests treatments for the issue, offers remedies and predicts the likely effect rather than just raising anxiety to public. This is different compared to the local media (The Star) which only reports about the consequences and solution for the issue. In The Star news report, its report is solely on the possible delay for Beauty and The Beast screening, also the consequence that the movie might be pulled out of Malaysian cinema due to Malaysias Film Censorship Board request to cut the gay scene. Consequently, the way media frame news is crucial as they are capable of influencing the publics belief and also to determine the final resolution of publics concern. This is supported by Entman (2007) he suggests news frames are designed to make target audience think, feel and decide in a specific way. Not just that, Dixon and Clarke (2003) believe that controversial reports actively shape the way readers understand the issue. Despite the traditional news values and frames that are already embedded in their routine, some journalists construct news differently from its nature. On the other hand, Daily Mail (by AFP) cited senior mufti for Malaysias northern Perak state Harussani Zakaria, saying that the Western behaviour has gone awry that Malaysian should guard themselves thus, the movie must be banned. This is surprisingly different from Bloomberg, The Star and The Independent as none of these media outlet cited a religion expert in their news report. Myrick (2002) suggests by including diverse viewpoints, journalists could achieve fairness and balance, avoiding distortion by personal feelings and prejudices. With regards to news value and frame, Kiousis (2004) claim that this has to do with the idea that more visible and will be more prominent on publics mind. It is also vital to note that different parties compete to shape the frame of a news story. Moreover, by framing Beauty and The Beast as the negative behaviour of the society, it does meet the standards of newsworthiness such as emotional effect and conflict. For a Muslim majority Malaysians, the p ress desire to publish sensational stories to attract readership is fulfilled hence the focus on controversy, drama, human interest and brevity. Nik Hassan (2007) claims that to present news with human interest value, journalist use framing to package the idea, make sense of it and suggest the issue to the public who rely on mediated news for information. On the other hand, all three foreign media reports were merely focusing on the banning of Beauty and The Beast as the gay moment and Malaysias law against homosexuality rather that educating and informing the public about media censorship in the country. This suggests that the words homosexual and gay play a major role in shaping a news story. Correspondingly, Entman (2007) claims that media framing involves section that highlights certain criteria of an issue to promote salience among the public. Thus, this also proposes that the media has successfully selected the frame of the issue by highlighting a few words that trigger the pu blics attention and emotion. In the nutshell, every media outlet has its own agenda by the way it frames and selects the story where the main news frame is Beauty and The Beast defined as the negative behaviour of the society. Similarly, Maher (2001) claims framing and agenda setting are related that they emphasis on the selection of ideas or criteria in a news coverage to promote its message to the public. By analysing all four articles, it can be concluded that all foreign media articles emphasised on the word gay in their news articles. The Independent and Bloomberg, for example, had the word gay in the title itself which surely catches readers attention. Compared to Daily Mail and The Star, the titles for these two articles are rather neutral and did not come out with anything controversial. Furthermore, Bloomberg, The Independent and Daily Mail had the word gay moment at the lead paragraph which suggest that all these media outlets perceived the word to has its own newsworthiness that it also define the con cept of the movie despite its very short scene. As mentioned, news frames are from time to time tied to agenda setting in exploring how a certain issue become the focus of media, public attention and policy change (McKeever, 2013). By evaluating the content that makes the news, this analysis helps to determine which frames and news value might be the most effective in making the story newsworthy and marketable. References. Caudill E, Ashdown P. The New England Journal of Medicine as news source. Journ Q 1989; 66:458- 62. Dunwoody, S. Griffin, R. (1993). Journalistic strategies for reporting long-term environmental issues: A case study of three Superfund sites. In A. Hansen Entman, R. 1991. Framing US Coverage of International News. Journal of Communication, No. 41, pp. 15-18. Entman, R. M. (2007). Framing bias: Media in the distribution of power. Journal of  Communication, 57, pp. 91-95. Goffman, E. (1974). Frame Analysis: An Essay on the Organization of Experience. Cambridge: Harvard University Press.p. 1. Gamson, W. Modigliani, A. (1989). Media discourse and public opinion on  nuclear power: A Constructionist Approach. American Journal of  Sociology, 95(1), 7 21. Kiousis, S. (2004). Explicating media salience: A Factor Analysis of New York Times Issue Coverage During The 2000 Presidential Election. Journal of Communication, 54, 62-71. Maher, M. T. (2001). Framing: An emerging paradigm or a phase of agenda setting. In S. D. Reese, O. H. Gandy, A. E. Grant (Eds.), Framing public life: Perspectives  on media and our understanding of the social world, pp. 79-84. McKeever, B.W., 2013. News Framing of Autism. Science Communication, 35(2), SAGE, pp.213-240. Yopp, J. McAdams, K. (2003). Reaching Audiences: A Guide to Media Writing  3rd ed. Boston: Allyn Bacon, p. 8.